Technology giant IBM (NYSE: IBM) on Monday released its first quarterly report under new CEO Arvind Krishna, at a time when the industry is passing through an era of unprecedented turmoil.
In the first quarter of 2020, adjusted earnings dropped to $1.84 per share from $2.25 per share in the corresponding period of last year, but topped the estimates. The unimpressive bottom-line performance reflects a 3% decline in revenues to $17.6 billion.
IBM’s stock has been on the recovery path since mid-March, after being battered by the market selloff spurred by the COVID-19 outbreak. The shares, which lost about 11% since the beginning of the year, closed Monday’s regular session higher. However, they slipped into the negative territory during the after-hours following the earnings announcement.
It is estimated that the size of the global chip manufacturing equipment market would nearly double from the current levels to about $142 billion in the next eight years. Applied
Shares of Take-Two Interactive Software (NASDAQ: TTWO) were down over 2% on Friday. The stock has dropped 32% year-to-date and 35% over the past 12 months. Earlier this week, the
Cisco Systems Inc. (NASDAQ: CSCO) is the undisputed leader in networking technology, but its core business has been facing challenges over the past few years. While the company faces stiff